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Here is marketing aha: They saw a need for children’s books in 8th grade and lower market. They connected with a publisher, sold idea to them, and then created this advertisement and place it in many ezines (some assumptions here). Then they leveraged to bring them results they desired with least amount of effort on their part.
Let me move this strategy in a way on how you can apply it to your success:
1. Find a hungry niche/market (they found one – 8th grade and lower markets lacked poetry).
2. Made sure there was an excellent chance for a sale or guaranteed revenue (I'm sure they wouldn't have done it had it not).
3. Leverage other people resources to fill product (they are taking other people’s material, accumulating it, finding best, and putting it into a product).
4. Don't pay out anything until you have advance, or you can make enough money on presales to cover expenses (their prize awards aren't going to be paid out until they get an advance from publisher for book or they presell it through their own marketing program). [Special note: their break even point is so low all they would need to do is sell 100 books -- fairly easy since they already own hundreds of retails stores already.]
5. Sell product and pocket profit. (Except, they are probably going to make some money, their biggest advantage is in their new market attraction to their stores.)
Think about all times this has been done in past. One of best-case scenarios is Chicken Soup of Soul books. They didn't write any of them, they leveraged all content by finding writers that wanted to get their name in print anyway possible (most professionals looking to built visibility for their practice). And they were happy to have that opportunity. Therefore, Chicken Soup created a win/win. Dollars for their pocket and "published author" recognition for writers.
After a few issues it took on a whole new momentum, even Chicken Soup didn't even see coming, people volunteered their ideas for more topics/books and even leveraged to produce more books for their series and they rode it all way to bank -- becoming an overnight millionaire -- oh, I think it’s billionaire now.
In summary, here is some of wisdom from this light bulb moment:
* Relationships are important in building a practice. Taking time to not only see things from our own perspective, it is important to see them from possibilities for our clients/customers. It only takes a moment and experience can be so fabulous.
* How much easier it is to develop a product with leveraging. How can you apply this to something in your business?
* Synergy builds with action after a light bulb flash. So, why not stop and take action when it occurs. The journey is sooooo worth it.
* Where is hungry market for your product/services? Identify them and make your marketing so much easier. They can be just an age group away.
* What is sitting on your desk right now that could help one of your clients? Share it, it will come back. This is how universe works.
Take a moment right now and write down three action steps on what you are taking away from this. Did you have different flashes? Share them with me so I can spread energy. Or share them with whom you need to. Send them an e-mail, it only takes a moment. Go ahead, do it. The ripple will be felt for a long time. Leveraging is a mindset, let it start here and now.
Resource Box:
Catherine Franz is a marketing industry veteran and strategist, a Certified Business Coach, Certified Teleclass Leader and Trainer, speaker, and author. Ezines, tips and articles are available: http://www.abundancecenter.com